First-time jobless claims declined to 547,000 for the week ending April 17 from 586,000 the week before and are well below the 4.2 million posted one year ago, according to government data released Thursday. … READ MORE >
Economics
Globalization and the failure of the Super League
The collapse of the European Super League on Tuesday, less than 48 hours after it was announced, should provide a valuable lesson for those who support the movement of ideas, capital and people across borders to expand opportunity and prosperity. … READ MORE >
CHART OF THE DAY: The strengthening dollar as the recovery takes hold
We expect the real effective exchange rate of the greenback to advance in value against a trade-weighted basket of currencies as growth and interest rate differentials drive capital flows into the U.S. this year. … READ MORE >
Bank of Canada policy decision: Tapering bond purchases by $3 billion a week
An improved economic outlook and growing confidence among central bankers have created the conditions in which the Bank of Canada is now comfortable paring back the pace of bond purchases by $3 billion per week. … READ MORE >
American peak growth? Here is some much-needed context
One of the stories driving conversation today in financial markets, especially among fixed-income participants, is the idea that U.S. growth has peaked and that is why bond yields have declined recently. This discussion needs some context. … READ MORE >
CHART OF THE DAY: Southern California seaports processing record number of imports
The Los Angeles and Long Beach seaports are processing an extraordinary number of import containers. Although the three months after the holidays are generally the quietest of the year, this first quarter broke records and that activity points to the tip of the global economic recovery. … READ MORE >
How pandemic savings might have saved the day
The mix of savings, pent-up demand for services and what we think will be an increase in productivity-enhancing investments by businesses will provide a multiyear period of above-trend growth. … READ MORE >
CHART OF THE DAY: Housing is on fire
Housing starts skyrocketed 19.4% in March to 1.739 million, blowing past expectations of 1.613 million and well above the 1.5 million long-term equilibrium, according to government data released Friday. … READ MORE >
CHART OF THE DAY: In retail sales data, consumers are ready to get out of the house
The March retail sales data showed just how much pent-up demand exists in the economy, and people are ready to travel around the country again. … READ MORE >
Initial jobless claims: Large decline as workers return
First-time jobless claims declined to 576,000 for the week ending April 10, which is the lowest since March 2020 as individuals begin streaming back into the labor force and the economy begins to reopen on the back of vaccinations and fiscal aid. … READ MORE >